HCA Healthcare (NYSE:HCA) is set to release its earnings report this Tuesday before market hours, and investors are watching closely. The hospital operator reported revenues of $20.23 billion last quarter, an 8.7% year-on-year increase, but the results were mixed overall. While the company beat analysts' earnings per share (EPS) estimates, it slightly missed full-year EPS guidance expectations.
This quarter, analysts anticipate HCA Healthcare's revenue to remain flat year-on-year, a significant slowdown from the 9.6% increase recorded in the same quarter last year. Over the past 30 days, analysts have largely reconfirmed their estimates, suggesting stability in their outlook. However, HCA Healthcare has a history of missing Wall Street's revenue estimates multiple times over the last two years.
Peers in the healthcare providers & services segment have already reported their Q3 results, providing some insight into what to expect. Elevance Health posted flat year-on-year revenue but beat estimates by 3.1%, while UnitedHealth also reported flat revenue, exceeding expectations by 1.2%. Both companies saw positive stock movements post-earnings, with Elevance Health up 1.4% and UnitedHealth up 4.5%.
Investor sentiment in the healthcare providers & services segment has been positive, with share prices up 2.7% on average over the last month. HCA Healthcare has outperformed this trend, rising 7.7% during the same period. The company is heading into earnings with an average analyst price target of $461.81, slightly below its current share price of $466.02.